- Analyst suggests Pi’s price could rise during Consensus 2025, shifting rally expectations from August to mid-May.
- Pi’s RSI of 27.98 and bearish MACD indicate oversold conditions, though no bullish reversal is confirmed.
- Piscan data shows token unlocks drop from $132.5M in August to $85.9M by November, easing future supply pressure.
A potential turning point for Pi Coin could come during the Consensus Summit 2025, scheduled from May 14 to 16. Crypto analyst Dr. Altcoin suggested in a recent X post that Pi’s price may begin rising during this event.
This comes as anticipation builds around possible updates or partnerships that might emerge from the summit. According to Dr. Altcoin, any positive developments during the event could lead to renewed investor interest.
While many previously looked to August for a rally, this forecast brings the spotlight to mid-May. Consensus 2025 features key players in the blockchain industry, providing Pi with a timely opportunity to attract renewed market attention.
Price Trends Remain Bearish
Despite the anticipation surrounding the summit, Pi Coin continues to trade in a declining trend. At the time of writing, PI was trading at $0.5768, down from the April 13 high of $0.72.
The price has formed lower highs and lower lows since mid April, showing persistent downward pressure. The lowest point was $0.57 today. Volume patterns show the bearish sentiment, as spikes in trading activity occurred during price drops.
Mid April and late April both had increased sell activity, suggesting high pressure from sellers. Present volume levels remain elevated at 3.99 million, indicating ongoing active trading. However, the volume has not translated into any sign of recovery yet.
Technical Indicators Show Limited Recovery
The RSI is at 27.98, below the 30 level. An RSI this low suggests the asset is in oversold levels, hinting at a potential for a minor rebound. Still, this does not confirm a trend reversal.
The MACD remains negative, with the line at -0.0166, below its signal line of -0.0141. The negative histogram value of -0.0025 indicates continued downward momentum. This setup shows no immediate sign of bullish momentum building.
Supply Pressure May Ease from August Onward
Although expectations once pointed to August for a rally, recent data suggests reduced selling pressure starting then. According to Piscan, Pi token releases will drop substantially in the coming months.
August will see $132.5 million in tokens released, followed by $115.2 million in September. By October and November, releases fall further to $89.5 million and $85.9 million, respectively. Dao World reported ongoing large transfers to the GASW wallet.
On a single day, 205,541 Pi was sent, with another 340,963 Pi moved hours later. The wallet now holds 49,967,563 Pi, excluding the Core Team and exchanges, making it the top holder. These ongoing transfers and the reduced unlock schedule could impact future liquidity patterns.
